Export of services up by 4.3 percent

ISLAMABAD: Export of services from the country during the fiscal year (2010-11) witnessed increase of 4.3 percent as compared to the last year, Federal Bureau of Statistics (FBS) reported.

Services export from the country stood at $5.455 billion during July-June (2010-11) as against the exports of $5.229 billion in July-June (2009-10), FBS figures revealed.

On the other hand, imports of services during the period under review stood at $7.590 billion against $6.919 billion, showing an increase of 9.70 percent.

Based on the figures, the trade deficit of services during 2010-11 was recorded at $2.135 billion against the deficit of $1.690 billion last year, showing an increase of 26.33 percent in deficit.

On monthly basis, the services exports during June 2011 increased by 3.74 percent as compared to exports of June 2010. The services exports in June 2011 stood at $416 million against the exports of 401 million during the same month of last fiscal year.

Imports during the period were recorded at $777 million against the imports of $660 million, showing an increase of 17.73 percent.

Based on the figures, the services trade deficit during June 2011 stood at $361 million against the deficit of $259 million, showing an increase of 39.38 percent.

As compared to the service exports of $373 million in May 2011, the exports during June 2011 increased by 11.53 percent.

On the other hand, the imports of services increased by 8.22 percent in June 2011 as compared to the imports of $718 million recorded during May 2010.

The overall service trade deficit during June 2011 stood at $361 million against the deficit of $345 million during May 2011, showing an increase of 4.64 percent.

Copyright APP (Associated Press of Pakistan), 2011